JP Morgan: High level of exportation cures deficit of Turkish economy

In its Europe, Middle East and Africa (EMEA) Researches Report, JP Morgan estimated that Turkey's economic growth by 8.5 percent in 2011 would be followed by a rate of 2.8 percent in 2012 and 4.5 percent in 2013. Furthermore, it was envisaged that the 12-month average of inflation rate in Turkey totaling 6.5 percent last year would become 8.7 percent in 2012 and 6.0 percent for 2013. "Turkey has become measurably cheap and concerns over the usual vulnerabilities – inflation and the current account deficit – are beginning to recede due to cyclical factors. We have already shifted towards industrial stocks given the improved outlook for growth and are generally more positive on this market," the report added.